Amaya investigator says there is no proof that privileged information was shared

According to the lead investigator in the insider trading case against Amaya’s executives, the Quebec securities regulator has no direct proof that privileged information was shared.

Canada.- The lead investigator in the insider trading case against associates of Amaya says the Quebec securities regulator has no direct proof that privileged information was shared in phone calls preceding at least one attempted acquisition.

Under cross-examination conducted before an independent tribunal, Xavier Saint-Pierre says he doesn’t know exactly what was said in a series of calls among officials working for the online gaming company or between family members in relation to the proposed 2011 acquisition of Cryptologic Inc.

On the other hand, L’Autorite des marches financiers, Quebec’s securities regulator, alleges that 12 people used access to privileged information about impending Amaya acquisitions to reap nearly US$1.5 million in profit over five years.